PAKISTAN ABOUT TO FINANCIALLY IMPLODE

http://www.ft.com/cms/s/0/1d44428c-a4e2-11dd-b4f5-000077b07658.html?nclick_check=1 IMF ‘has six days to save Pakistan’ By Farhan Bokhari in Islamabad and Chris Bryant in Berlin Published: October 28 2008 11:52 | Last updated: October 28 2008 11:52 The International Monetary Fund has less than a week to prevent a full-blown financial crisis in Pakistan, Germany’s foreign minister warned on Tuesday, as Islamabad said it was nearing agreement with the fund over a bail-out package... ...Pakistan needs $4bn-$5bn for the financial year to June 2009 to meet debt payments and other liabilities, according to finance ministry officials in Islamabad. An official at the central bank said the country’s foreign currency reserves stood at $4bn and were likely to run out by the end of November. “We have a very narrow space to put the country back on the rails,” he said.